Hi all,

I have purchased a house property(flat) in 2015. I got possession of the house in 2021. Can I claim interest paid on pre construction period in my ITR for FY 21-22 as an interest on loan of pre construction period?

Thanks in advance.

We are supplying to DSIR Recognized Centre’s the subsidized GST rates for such items are 5% in case of import & interstate purchase, and 2.5% along with SGST and 2.5% in case of purchases within the state. Now my question is that can we avail 100% ITC on our input or reverse certain percentage of input.

How do we treat this? Supplier should issue the credit note and reverse the GST ?

I have an under construction house property for which I have availed home loan. I paid 1 lac interest in FY21. Construction of the property will be completed by FY23. While filing income tax return for FY21, where to mention interest expense on under construction house so that I can avail benefit post completion of property.

SIR,
Sec 44ad it return filed jewellery business dealer invoice for cash sale limit and cash receipts limit from customers under it and gst act.

I am a salaried person with annual salary income of Rs. 10 lakhs. I had incurred short term (3 lacs) and long term (2 lacs) capital loss on shares in FY20. In FY21, I have made short term (1.5 lacs) and long term (1 lac) capital gain, however I had taken sabbatical leave in FY21 so my salary income for FY21 was nil. In this way, my total annual income for FY21 was only 2.5 lacs through short and long term capital gain. As my total income in FY21 is below than exemption limit, I don't want to setoff carried forward losses of 5 lacs incurred in FY20. Do I have this choice?

SIR IN PREVIOUS YEAR OUR COMPANY HAD LOSS BUT IN CURRENT YEAR DUE TO EXCHANGE DIFFERENCE THE PROFIT ARISES. SO TAX IS CHARGED AS PER MAT PROVISION. SIR I HAD QUERY THAT THE PROFIT IS NOT ACTUAL PROFIT THIS PROFIT IS DUE TO FLUCTUATION IN EXCHANGE DIFFERENCE SO THERE IS ANY PROVISION IN mat REGARDING THIS POINT THAT NO TAX IS CHARGED ON MAT

I AM LIC AGENT , IN F.Y 2020-21 I RECEIVED COMMISSION AMOUNT RS. 5,87,000. AND TDS DEDUCTED FOR THAT AMOUNT. I AM NOT MAINTAIN ANY BOOKS OF ACCOUNTS. WHICH ITR SHOULD I FILE?
LAST YEAR I FILED ITR 3, BUT DEPARTMENT SEND ME NOTICE REGARDING 139(9) DEFECTIVE RETURN, IN THAT NOTICE THEY WANTS PROFIT AND LOSS A/C AND BALANCESHEET. BUT I HAVE NO OFFICE AND NO CLAIMING ANY EXPENSES. COMMISSION RECEIVED DIRECTLY DEPOSIT INTO BANK. SO, I AM IN DELEMMA. WHETHER I FILED ITR 3. IT IS ATTRACT TO DEFECTIVE U/S 139(9) OR IF I NOT FILED IT LEAVED ME PENALTY OR INTEREST.
WHAT SHOULD I DO? PLEASE HELP.
I AM NOT YET MAINTAIN ANY BOOKS OF ACCOUNTS.

I have submitted the return of income for the A.Y. 2021-22 u/s 139(1) as well as u/s 139(5) on 15/06/2021 on behalf one of my clients. The said return has not yet been processed even long 3.5 months had already been passed. Can I submit return further u/s 139(5) of the said client? Regards, Tarak Kumar Roy

I have earned income for solving accounting subject doubts for a homework help company. TDS under 194J has been deducted. Please tell me the nature of business to be selected in ITR-4.